There are big changes afoot at the corner of Hicks and State in Brooklyn Heights. The 25-by-125-foot plot with a four-story brick building at the rear of the property was bought last year for $3,400,000; since then the new owner has subdivided the property, creating room for a new townhouse (you can see the Landmarks-approved drawings here) to be constructed fronting on Hicks Street. The existing building on State Street is now under renovation and being marketed for a cool $4,250,000. Despite the small fact that shovel has yet to hit the ground on the Hicks end of the property, the listing states that “314 Hicks Street is a newly constructed red brick single-family residence–a modern reinterpretation, in early Greek revival style, of the classic townhouses that are found throughout the historic neighborhood of Brooklyn Heights.” Interesting use of verb tenses! The price for this unbuilt house? $6,200,000. Hey, you can’t blame the developer for trying. Even if he falls way short on these prices, just splitting the lot into two pieces was an act of serious value creation.
45 State Street [Corcoran] GMAP
314 Hicks Street [Corcoran] GMAP P*Shark